Tokyo - Shares in scandal-hit Japanese camera maker Olympus dived 29% on Tuesday after a panel probing past deals said funds had been used to cover losses on securities investments dating back to the 1990s.
A third-party panel was set up in October to probe claims of overpayments in four deals after the ousting of its British chief executive and president Michael Woodford on October 14 brought the payments into the spotlight.
Olympus said on Tuesday that the panel found it had used inflated fees to advisers to cover its losses.